Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Hugo Barbosa on June 17, 2020, 02:23:00 PM
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The history of the world's reserve currencies over the past 600 years shows there have been several dominant countries at different times: the Netherlands, the UK, and the US. At every historical stage, the world's reserve currencies cames along with their strong economic fundamentals and military might.
So far in human history, no single dominant force has been able to stay on the top. The Netherlands, Britain, and the United States were the dominant forces in the past 500 years, but they all in a trend of replacement.
With the establishment of the new world order, any replacement of the world reserve currency completed with decades or even hundreds of years. The US now printing lots of dollars and generating and debts, which shows a similar historical scenario.
Bitcoin is the product of the interactive development of the internet and finance, as well as the development of the times. Bitcoin is a currency issued based on a set of internet protocols rather than credit. Without issuer, third-party institution, and regulatory authority. The generation, transaction, and exchange of Bitcoin are all completed jointly by all nodes of the entire Bitcoin network.
Because of the sharp fluctuation of the exchange price of sovereign currency, and its super-sovereign currency feature has also attracted the attention of the public. Bitcoin is also a value symbol and the value is reflected in the exchange. However, it differs from sovereign currencies in that no country or economy guarantees Bitcoin, and its purchasing power is not linked to any GDP of the economy. The whole process from the generation to the circulation of Bitcoin is based on the credit of the entire Bitcoin network. The core value of Bitcoin lies in its independent and free structure, which ensures that any transaction is valid.
In the complex context of this transition, Bitcoin has the potential to seize a rare historical opportunity to make the jump from the hundred-billion-dollar to the trillion-dollar level. If bitcoin doesn't make that leap in its second decade, it has little chance of becoming the digital gold or one of the major reserve currencies of the new era. Overall, though, future uncertainty gives Bitcoin the chance to jump.
(https://images.unsplash.com/photo-1550565118-3a14e8d0386f?ixlib=rb-1.2.1&auto=format&fit=crop&w=750&q=80)
The market lacks an investment that could resist the risk of volatility and at the same time bring certain returns. The dual currency emerged as the times require. Different from the existing interest-bearing deposit and currency financing, dual-currency determines the income settlement method based on the "pegged price". Dual-currency financing can gain value from one of the two digital currencies.
Taking BTC/USDT dual currency which recently launched by BitOffer as an example
Dual Currency is a non-principal protected investment product with a floating return. The yield of the product is secured at the time of purchase, while the currency in which the product will be settled changes depending on how the Settlement Price compares with the Linked Price. A short-term investment product, Dual Currency could potentially provide a very high return. We have also designed it with a selection of tenors, catering to your varying risk appetite.
In this way, we can realize that Dual Currency is a product that enables investors to earn a stable profit from the cryptocurrency market. Even its profit seems to be higher than holding tokens on the spot trading market, but unlike leveraged trading, the risk is much lower.
Here is an example of investing Dual Currency
Let's take a look at how the Dual Currency - USDT Product works
Here we have a product with the parameters as follows:
Linked Price: 8,000
Expiry Date: 10-Apr-2020
Yield: 5%
Investment Currency: USDT
On 06-Apr-2020, John bought 10,000 USDT notional of the above product.
On 10-Apr-2020
If BTC rallies between April 6 and April 10, and the Settlement Price is above 8,000 USD, John receives his original investment + 5% yield in USD. Therefore, he receives 10,000 + 5%*10,000 = 10,500 USDT.
If BTC weakens against USDT between April 6 and April 10 and the Settlement Price is at or below 8,000 USD, John receives his original investment and 5% return in BTC. Therefore, he gets 10,000/8,000 + 10,000/8,000*5% = 1.3125 BTC.
Simply put, it is guaranteed that John will get a 5% yield on the expiry date. The only uncertainty is whether he will receive it in BTC or USDT, depending on where BTC/USD stands on the expiry date.
(https://images.unsplash.com/flagged/photo-1554386690-8627e1041100?ixlib=rb-1.2.1&ixid=eyJhcHBfaWQiOjEyMDd9&auto=format&fit=crop&w=2004&q=80)
Dual-currency is very suitable for stable investors who are averse to fluctuations. If such investors only hold the currency, it is difficult for them to get extra income in the current volatile market. Dual-currency finance can ensure the growth of investors' accounts at the given rate of return.
BitOffer as the largest digital currency derivatives trading platform, committed to providing investors with a richer, more appropriate investment category, the pioneering BTC, ETH, BCH, BSV various mainstream currency options, day trading user must, recently launch BCT/USDT dual-currency money, for investors in an uncertain market environment, provide deterministic appreciation, fearless and double benefits.
Sign up and enter the referral ID 007RTX to get $50.
https://www.bitoffer.com/en
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Bitcoin already the accepted currency, though some of the people still won't accept it.
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I don't think that will happen, because in some countries there are still many who consider that bitcoin is illegal, so it is very likely that bitcoin will not become a legal currency.
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Bitcoin is already accepted by some countries and so on , I think in future there is very highly chance that Bitcoin is accepted in 60% region . Beacuse loveliness of Bitcoin is increased day by day .
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I don't think that will happen, because in some countries there are still many who consider that bitcoin is illegal, so it is very likely that bitcoin will not become a legal currency.
Indeed, some people treat Bitcoin as the evil currency and misunderstood the investor who trades it. Though more people aware of the value of bitcoin, give it some times, baby step, pal.
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It depends on what is meant by global world currency. A common problem with decentralized cryptocurrencies is that due to the high price volatility, it is poorly used as a means of payment. In addition, the problem of bitcoin is also that it has relatively high transaction fees and a long transaction time.
At the same time, stable coins massively appear, including stable coins of states that are devoid of these shortcomings. I think that states, their bodies and business structures will not widely use bitcoin. It will be more a coin of citizens.
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Now there are a lot of different platforms with many innovative ideas that supposedly help to trade cryptocurrency. BitOffer is one of them. Its benefits with the idea of a dual currency are still hard to understand. In my opinion, it takes some time to understand the proposed innovations.
The discussion text says that so far there are not enough investors to raise the price of cryptocurrency and thus reduce its volatility. It is unlikely that an increase in the price of bitcoin and other cryptocurrencies can affect their price volatility. In my opinion, the higher the price of bitcoin is, the higher the risk of its decline and the greater the amplitude of its price fluctuations. After all, holders will worry about the safety of a lot of money invested and any negative rumor can provoke a big panic and a collapse in the price of bitcoin.
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Indeed the main purpose of the creation of Bitcoin is as a means of payment because of distrust of some people, including me against fiat money because its value continues to fall. But all of that is hindered by the rules of each country, so that until now only a few countries have legalized it, but I have faith that the world community will be able to accept Bitcoin. What is needed now is proper education.
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It is already accepted by some countries as payment for services and to buy some product. But, widely Bitcoin was use as form of investment. They are holding Bitcoin and later convert it to fiat as many countries still use FIAT currency as medium of exchange. Hopefully, BTC will be accepted as alternate currency of fiat and will be widely use as to the FIAT currency.
Today, BTC still struggling for acceptance in many region to replace or just a fiat alternate because it is very volatile.
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It is already accepted by some countries as payment for services and to buy some product. But, widely Bitcoin was use as form of investment. They are holding Bitcoin and later convert it to fiat as many countries still use FIAT currency as medium of exchange. Hopefully, BTC will be accepted as alternate currency of fiat and will be widely use as to the FIAT currency.
Today, BTC still struggling for acceptance in many region to replace or just a fiat alternate because it is very volatile.
Indeed, though personally speaking, I think Bitcoin has its own path to go, it doesn't have to be accepted like the FIAT.
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My simplest answer is "no need".
Bitcoin "does not need" to be accepted as a currency because it has an uncertain price character.
Bitcoin is not a currency but Bitcoin is a "digital asset".
Bitcoin is made a currency, it means it must have a country and in this world any country that has a price of its currency is "stable" and it is already owned and validated by the state.
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My simplest answer is "no need".
Bitcoin "does not need" to be accepted as a currency because it has an uncertain price character.
Bitcoin is not a currency but Bitcoin is a "digital asset".
Bitcoin is made a currency, it means it must have a country and in this world any country that has a price of its currency is "stable" and it is already owned and validated by the state.
You make the point. Indeed, as Bitcoin is the leading coin around the world with competitive value and potential, Bitcoin no needs to be accepted at this point. However, Bitcoin got where it is today with neutralized by most governments and organizations. It is already legendary, though If Bitcoin were accepted by the wider world, it would be a different story.